4.16.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Already part of a cross-bank coalition to push corporate payments automation, Standard Chartered is accelerating its strategy by extending its digital collections gateway to several Asian markets.
Called Straight2Bank Pay, the product will now be available in China, Hong Hong, Malaysia, India, Singapore and Vietnam, with later moves into Bangladesh and Kenya.
The bank hopes to lure clients through a mix of QR code-based collections, bank transfers, mobile wallets and on-premise collections.
The gig economy payments market is crowded with competitors, though there's still rampant dissatisfaction among workers regarding the reliability and timeliness over how they get paid.
Seeing an opportunity, MoneyGram is collaborating with fintech Kyck Global to support same-day payments for contractors. Kyck uses a blockchain for same-day ACH, PayPal, bitcoin, stored value cards and cash.
Blockchain and cryptocurrency are popular with younger consumers and are considered an emerging options improve gig economy payrolls.
E-commerce company Copia Kenya as added a web shopping program designed to serve rural areas of the country that have not yet benefited from Kenya's considerable mobile commerce heft.
To use the service, consumers provide a mobile number of a friend or family member that lives in a rural area. Copia then locates the person and finds the nearest delivery agent, a process that usually takes two to four days, reports AllAfrica.com.
Copia also recently opened a new logistics and distribution hub in Kenya to support its agent network of about 3,700 distributors.
Global Payments will be the merchant acquirer for Discover in Hong Kong and Taiwan. The deal includes Discover, Diners Club International and other partners, reports Nasdaq.com.
The two companies have an existing relationship in the U.K., U.S. and Canada, and this new arrangement will allow both brands to bolster their geographic footprint in Asia.
From the Web
Bitcoin Transaction Costs are ‘So Much Cheaper’ than Credit Cards, Says Canadian Mayor
CCN | Mon April 15, 2019 - A Canadian town mayor says using bitcoin to pay for property taxes has made transaction costs much cheaper. Innisfil is the first town in Canada to allow residents to use bitcoin to pay their property taxes. It’s part of a one-year pilot program the town entered into with Coinberry Pay, a Toronto-based cryptocurrency company.
Indian banks look for ways to implement blockchain for payments
CoinGeek | Mon April 15, 2019 - The National Payments Corporation of India (NPCI) is thinking of implementing blockchain technology with its digital payments system. Ten banks operating under the Indian Bank’s Association (IBA) will use blockchain to improve the NPCI.
Experts: Breach at IT Outsourcing Giant Wipro
Krebs On Security | Mon April 15, 2019 - Indian information technology (IT) outsourcing and consulting giant Wipro Ltd. is investigating reports that its own IT systems have been hacked and are being used to launch attacks against some of the company’s customers.
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